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tv   Studio B With Shepard Smith  FOX News  April 27, 2010 3:00pm-4:00pm EDT

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>> thanks for watching. tomorrow, bernie goldberg and stossel. "studio b" with shepard smith starts now. >> the news begins anew, two new terror videos including two familiar faces. the american man dubbed the future of the face of terrorism. cathrine herridge breaks it down. box number two, the rush to stop crude oil flowing into the gulf of mexico after this oil rig explosion. the question, how soon until the second disaster threatens folks along the coast. >> box number 3, the block blogger, trying to get a scoop on the iphone, now the target much a criminal investigation. all that, unless breaking news changes everything on "studio b." first, the credits.
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>> boy, the feds say goldman sachs raked in billions by selling mortgage investments they knew were on the brink of collapse, designed them to be on the brink of collapse, bet they would collapse and told their investors these are great. toxic assets at the heart of the country's financial crisis. today the senate demanded answers from top executives at goldman. lawmakers are trying to figure out whether they knowingly tricked investors but goldman, a firm rolling stone magazine journalist referred to as the giant vampire squid, claims it was just following the rules. senators, however, are not buying that. >> two things, number one, nobody done anything wrong. was a a natural disaster, the mortgage market fell and nobody knew it and second, these things just happened.
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these halls are full of folks so said everybody is doing it. i don't think it's going to hold up. >> never did with your parents when you were 6, one of the highlights when karl levin could be confronted an executive. >> june 22 the date of this email, boy, that timer wolf was one [ bleep ] deal. how much of that [ bleep ] deal but sell to your clients after june 22, 2007? >> mr. chairman, i don't know the answer to that. but the price would have reflected levels that they wanted to invest. >> but you didn't tell them you thought it was a [ bleep ] deal. >> i didn't say that. >> you knew it was a [ bleep ] deal. >> he killed had a sh [ bleep ]
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deal 11 times. lawmakers will keep up the pressure as long as it takes to get answers. jim ingle has been watching this [ bleep ] stuff go down. what a crappy mess. >> it is, karl levin wasted no time issuing a sweeping indictment of goldman accusing it of betraying investors and pushing the economy into crieses. >> misuse of exotic financial structures helped spread toxic mortgageses through the financial system. when the system collapsed under the weight of the toxic mortgages, goldman profited from the collapse. >> you are the bookie, you are the house. you have less oversight and less regulation as you all began this wild, wild west. >> less oversight than a pit boss in las vegas.
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she gave an explanation of how bookies work. senators blame goldman for the economic problems stemming from the housing collapse for lost homes and disappearing jobs and several made it clear they're trying to figure out what new regulations might keep this from happening. >> that might be the understatement of the day. anybody who watched a pit boss knows there are regulations. goldman wasn't the only problem, goldman is at the center today but what is the complaint against goldman in particular? >> you're right. here the whipping boy today but a lot of this was going on in different places. goldman sold investments in passage of derivatives even though they bet the same investments would lose value, a process called shorting. the executives conceded they were short on some investments but emphasize they were sold to
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other banks such as bear stearns, not regular consumers. >> between sophisticate the investors, all of which were institutions. none of my clients were individual retail investors. >> so when the mortgages turned out to be shaky, goldman sometimes made money and sometimes lost. the question, the kind of things they were selling and whether congress wants to step in and regulate that. >> shepard: you know, they pointed out today, jim, this entire bundling of securities in the center of this, they sold this as look, how great this is, and all of the $2 billion worth of shorts, all of the bets against it were from goldman sachs. every one of them. it was goldman sachs executives who designed them to fail and told people look, this pretty canned y buy it up. who do they think they are?
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>> they would dispute comment they designed it to fail but they concede they were packaging something full of risk. they're going to bear stearns and saying, you guys want something? here it is, you have all the details, you can see what kind of mortgages they are. you can see how this is is structured, you're smart just like we're. you look at it and look at the details, you decide. you can buy or not buy. so they -- absolutely deny they fooled anyone because everybody could look at the details and see exactly what was in the deal. >> shepard: transparency, open markets. a trading system would be so nice. jim, thank you. >> you bet. two newly released terror videos, the first an interview with the man the united states intel chief calls the future face of terror, anwar al awlaki. the video marks the fir time he
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alliance himself with al qaeda, referring to the underwear suspect and fort hood suspect as his students. katherine, does this video including anything valuable in the way of intelligence? >> it's important because when you look at the video, what you can see in the upper right-hand corner is a gold emblem or a symbol that is synonymous with al qaeda. this is the first time he's branded himself with al qaeda. for context you have someone linked to three of the 9/11 hijackers, fort hood and christmas day day bombing saying i'm part of al qaeda in yemen. there can be no confuse. >> the under wear bomber told the fib there are others like me and another recent video appears to back up that statement. >> well, in video was first obtained by abc news. we have a screen grab which
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shows the 25-year-old suspect in the attempted christmas day day bombing. based on conversations today there's little doubt among intelligence officials that is umar farouk abdulmutallab. it's a sensational video, spectacular in many ways but in terms of adding to the understanding of al qaeda in yemen and the training campus in yemen, what i was told by multiple officials is it doesn't tell us more than we knew because the 25-year-old is cooperating with authorities and they understood from him as well as other data there were others training in yemen. again, for context, this is a propaganda video so it's staged. when you look at the video, you can not assume that is what an actual training camp looks like in the country. >> shepard: what do the videos tell us about al qaeda and yemen and its relationship to the al qaeda with which we were familiar? >> al qaeda and yemen is attachment to go align itself
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directly with al qaeda proper, sort of the al qaeda leadership in pakistan? terms of how they're struckering things. they're developing their own media branch, the two videos were put out by their production company. if you will. it's a desire to create a propaganda arm which signifies aqap is attempting to be an even bigger player than it is already. >> shepard: katherine, thank you. >> the offshore oil rig slick is growing, covering an area largerrer that are the state of rhode island. worse, the oil is still flowing out of that well. what happens once the oil hits the beaches? it is the pan handled of florida's nightmare come true. they begged for years, please, don't drill there. this is our life source. without tourism on these
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beaches, we're dead. "studio b" continues in 90 seconds. can you believe how fast kids grow these days? that's why there's new danonino. new danonino has twice the calcium of milk, ounce per ounce, with vitamin d. so it's power packed for healthy growth. yummy!
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new danonino from dannon. power packed to help kids grow. so forget return on investment. let's talk return on insurce. switch your car insurance to allstate, and you can earn a 5% bonus. 5% of your premium sent to you twice a year for as long as you don't have an accident. the safe driving bonus check, only from allstate. [ operator judy ] see how much you could save. call or click today for a free quote or to find an allstate agent. ♪ it is coast guard is warning a massive oil slick from the wig disaster in the gulf of mexico is growing. now concerns it could reach the beaches. here's a look at size of it courtesy of nasa. this was taken two days ago. you can see the slick on the
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right in the red circle. it covers more than 1800 square miles, 78 times the size of manhattan. crews are using robot submarines to stop the leak. it's estimated 42,000 gallons a day are leaking. they're trying to cap off a drilling pipe more than 5,000 feet below the surface and timing is critical. forecasters say for now the wind is pushing the slick away from the breaches but it's expected to change. trace gallagher is following this. what do experts think it could wash up on the east coast? >> we have breaking news out of noaa telling us they do not believe the oil will wash up along the gulf coast in the next three days but the winds are beginning to shift, which means from louisiana all the way up to the florida panhandle, they believe the oil could begin to
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start washing up on the beaches late this weekend, maybe early next week. you want more context? if we can put the satellite picture up, you mentioned 1800 square miles. think back to the disaster that was the exxon val valdes, 1300 square miles. we're bigger than that and 42,000 gallons a day are being pumped out. >> shepard: where do they think it will go? >> they're trying to stop it. they think it will come up and keep expanding. they're trying to stop it with a robotic submarine going down to shut off a trigger blow. they hope that shuts off the majority of the flow. if the submarine doesn't work, their next best hope is to use something like an underwater dome. they'll build it and sink it down to 5,000 feet and hope the oil gets trapped in the dome and
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they'll pump it out onto a ship. lastly, they would drill a relief hole in there, like a separate well, to redirect some of the oil. the problem is, all these things they're talking about could take weeks to put into action. >> shepard: scary. trace gallagher, scary to people who own businesses there. thank you. >> lawmakers agree the amount of national debt is a big problem. should have thought about that when we started the wars. the area of controversy is how to get it under droll. president obama says all options should be on the table. owning the first meeting of a bipartisan debt reduction commission to limit the deficit. for context the natural debt hit $1.4 trillion last years double where the president wants it to be. serious cuts musting made. >> this is going to require
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people of both parties to come together lunged at the growing gap between what the government spends and raises in revenue and require we put politics aside and think more about the next generation than the election. >> shepard: in washington? the panel isn't expected to make a recommendation until after the november elections. which could give it freedom to consider less popular solutions like a hike in taxes or a cut in government benefits. major garrett with the news live at the white house. you spoke to the co-chairs of this commission. what are the expectations here? >> they're -- i don't want to say shrinking expectations but stinson and bulls said what the commission can do is educate the american public about the size and scope of this problem. that tells me that they don't necessarily believe they can come across the finish line with hard and fast recommendation. to do so, they have 18 members
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on the commission, 14 have to agree. 10 democrats and 8 republicans. we need a 78% majority, higher than to break a filibuster in the senate or approve a treaty. 78% is the kind of majority they need. it sounds like they think the education process is all thee accomplish, leaving the hard work for another commission? the president wants the commission to be left alone. do the co-chairs agree? >> they don't want leaks or pesky people like me asking what's on the table while they put it on the table. they don't want pressure about what they might do with social security and medicare benefits and the new healthcare reform plan which is on the table as well for changes or possible recommend recommendation to say change. they don't want to be asked about the revenue side, a value added tax or national sales tax.
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they want to be left alone to deliberate and not deal with me and president says these people should be left alone and no more washington game playing about what is on the table or off. >> the country of greece's debt affected its investment rating, bonds reduced to junk status today. >> i asked mr. bowles and mr. simpson add they said it lowered the bond status for portugal. europe is now facing a potential debt crisis and one move against greece set off shock waves throughout europe, london and new york. the commissioner said if america doesn'tgram grapple with the debt problem, it won't turn into greece but will have similar problems. the first day the u.s. debt
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commission meets across the water, greece sees its bond rating reduced to junk bond status and those weigh heavily on the minds of the commissioners who have to decide what to recommend and congress has to decide what to do. >> major garrett at the white house, thank you. new developments in the hot senate race in florida. the frontrunner, marco rubio, takes another step in his campaign. the governor, charles crist, makes a big announcement. carl cameron with the facts in a live report coming up. there were dead spots everywhere. this is the right stuff. ortho weed b gon max. it kills weeds down to the root. even the tough ones like dandelion and crabgrass. but unlike that other stuff, it won't kill the grass. ortho guarantees it. kill the weeds, not the lawn. weeds, not lawn. got it? yea. ortho weed b gon max.
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defend what's yours.
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carl cameron is live in the south florida newsrooms. i'm told that governor crist signaled which way he's leaning. >> he said he wants to wrap it
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up. he was asked what's changed that would have him consider and independent candidacy and i said i don't know. he has been moderating his positions, criticized by conservatives of the republican party that he's acting like a centrist. as the incumbent governor of florida leaving the republicans -- crist's decision is imminent. in fact he had a weekend where he spent a lot of time reflecting on options and aides say he has a peace about him as though a decision has been made but he isn't going announce it until thursday. we're waiting on the details for when. for all intents and purposes, the only thing left to do is say it. >> marco rubio apparently going against the trend with his stance on the immigration bill in arizona. >> yeah, if -- when charles crist ads himself into the mix
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as a independent, what rubio needs to do is wonder if he has a conservative on his -- what crist has to worry about is being in the middle. rubio is the conservative cad, kendrick meek on the left and crist in the middle. today rubio repositioned himself on immigration saying he does not support the new tough antiimmigration law out of arizona saying it could create a police state, listen to this. >> everyone is concerned with the prospect of the reason suspicion provisions where individuals could be pulled over because someone suspects they may not be legal in this country. over time people will grow uncomfortable with that. >> he says he understand given the crime and problems like arizona face why the laws are written but it's a failure of the federal government. he says if provisions that require aliens to carry
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documents and law law enforcement to demand them of people they suspect are not here legally, he says it could lead to a police state. >> the breathing while latino law. >> well, that's the concern of the critics. and for marco rubio, the son of cuban exiles and seen as many as an opportunity to court minorities, his differences with the arizona state law illustrates the problems republicans are worried about with immigration debate. >> shepard: sounds a lot like the driving while black law. i can understand his consideration. thank you. we're just getting word of a flight that was headed overseas a dealt delta flight, diverted due to a disruptive passenger. we're gathering information and will bring it to you right after this commercial break. i have diabetes, and sometimes i wonder
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i discovered how to wake up feeling great. [ male announcer ] disver the accu-cheaviva system and save with a prescription discount card. start your discovery today. we're getting more information about a delta airlines flight diverted from paris to maine. fox news's assignment desk manager is tracking this. it's headed to atlanta? >> we think it's on the ground in maine. look at the delta website, they're confirming this is flight number 273. its out of paris, on the way to atlanta. it has been diverted. we followed the track here. we think now -- i haven't
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confirmed but we think the plane is on the ground a flight from paris to atlanta. bangor, maine, due to a disruptive passenger. there are mixed reports about what he was doing. a local website, a local filiate says the passenger claim to have a bomb. fox news has not confirmed that but the plane is going to land in bangor, maine. the tsa confirms the story but not a lot of details. there's a report there was a federal air marshal on the flight and they may have made an arrest during the flight. we have an affiliate on the way. so when we come back, hopefully we've have the picture. >> tsa saying they act the out of and abundance of caution because of a disruptive passenger. >> new information on the case against goldman sachs. federal investigators claim it
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played a big role in the sinking of the economy, one of the most respected financial firms on wall street. charges of fraud chipped away at the luster and today execs on capitol hill defending themself and their company. it's an uphill battle. >> in las vegas, actually people know the odds are against them. they play anyway. on wall street, they manipulated the odds while you play the game. it's -- i would say it's a -- it's much more dishonest because they -- it's like someone was playing a slot machine and the guys on wall street were tweaking the odds. >> when the smoke clears, is anything going to change? with us, the associate editor at the financial newspaper barron's, michael sanatoriy. barron's is owned by the parent company of this network. this is a great dog and pony show. the politicians are partly to
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blame because they changed the laws saying let them do this and then goldman sachs is playing blackjack and 20 and 20 is a push and then the house wins on the push. >> pretty much. the thing to recognize is that it's the search for a villain. after oversimplification of the situation. by goldman betting against the housing market, it didn't make a bad loan, it didn't take a bad loan, it made the wager that the subprime mortgage mess would end badly. that's not what was as stake. the sec's narrow fraud charge against goldman might well end up turning out they can win. who knows. but i don't think that really has anything to do with if goldman may or lost money on the best. it's about disclosure. this is saying who was really to blame for the financial crisis. the fact is it wasn't one firm, it wasn't just wall street. it was a general credit mania. >> including the government.
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>> absolutely. >> shepard: which said let's change the rules so people who cannot afford a home can get a loan anyway. >> the government and regulators allowed this explicitly unregulated piece to get huge. it was never intended to get that way. so you're right, this is a essentially kind of a food fight after the fact. it's not going to tell us what happens from here on out. at the moment, nobody's making a subprime loan. nobody's constructing highly engineered products like goldman is accused of misleading 70s with. so this is all retrospect active and about who is to blame. the reminds me of the enron executives. it was after the fact and a cleanup job. >> shepard: if they plug this hole, they'll come up with something else. the biggest geniuses in the world work on wall street instead of making something. but let's not lose sight of what they did. this may not be illegal but this
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is what they did. some guide from goldman says look at these subprime mortgages. look real close in here and figure out exactly who no matter what is going to default on these loans. these people are going to default. period. we can see it. we don't need a crystal ball. here's the amount of money they have, here's where the interest rates are, they're going to default. put them in a package with a bow and put it down there and say hey, everybody, here's a credit default swap. let's grab this thing. what they don't tell you is, they're shorting it. the entire $2 billion of a bet that that would fail was made by goldman sachs. who developed the thing with the intention of it failing. then it said to all its constitution institutional clients, buy this. >> the bet was made and initiated by a client of goldman sachs. that client --
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>> client paid 15 million to do it and goldman bet against it. >> they owned a piece and bet against it. >> if you looked at what everybody in the market was saying in 2007 about the housing market. they've said the market never crashed. >> shepard: who do the rating agencies work for? thish autoers. >> the banks, who are they going to work for when the reform is over? the bank. it's a load of crap. >> a lot more people than john paulson would have got it right. >> shepard: but it was obvious to john paulson. >> was he before he made -- he was nobody. nobody knew him. >> shepard: everybody else was doing the same thing. >> not everybody. >> john paulson looked at it and said they can't pay their bills. >> he got it right. that's why it was not obvious to say this is a slammed dunk. >> shepard: it feels like
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regular guys money belongs in a shoe box under the bed. that's what it feels like. >> you or i couldn't open an account at goldman sachs. >> i wouldn't. >> it's not so much it was the regular guys' money, it's that the bets got out of hand and blew up the financial system. it's not so much your money got used. >> it began can glass stegall. >> that was a big part. all the steps along the way and another law that kind of essentially carved out credit defaults and said this shouldn't be subject to the rules. so a lot of things in the deregulatory regime. >> i put it in a box under my bed. i go back later, unless the how keeper's been around, it's good to go. >> another wrinkle in the iphone leak. police raided the home of the evil blogger at the center of the scoop. the blogger was in a bar and saw the phone.
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might as well send a couple dozen cops to his house and open an investigation, so they did. we tackle that coming up and reveal -- we'll be back in like a minute or so. what if church could stamp out malaria. would you come. rethink church at there's a new 24-hour heartburn formula.
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or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. [ male announcer ] competition... it pushes us to work harder. to be better. to win. but sometimes even rivals realize they share a common goal. america's beverage companies have removed full-calorie soft drinks from schools, reducing beverage calories by 88%.
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togethewith schools, we're hping kids makeore balanced chces every day. ♪ it will be up to each of to you make sure the young people, african-american,s latinos and women stand together again. it will be up to each of to you keep our nation moving forward, to keep working to fix washington, grow our economy and build a fairer, stronger and more just america. >> the president in a new video appeal to go his base like politicians do. it's a push to get those 15 million people who voted for him the first time back to the polls in november, even though they don't turn out for midterms. with us. phillip rucker. great to see you. >> glad to be here. >> it's hilarious to me people
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are weirded out by the fact a politician is appealing to his base in election. what is wrong with them? >> well, you know, they see the democrats -- the democrats see this as critical for chances in november. they think they can make up ground on republicans by appealing to the voters who had a personal connection with obama back in 2008. they're trying to rekindle that magic in a way and get them back to the polls in the fall. >> shepard: hard to do in a midterm election. history tells us it will be. >> it will be. it will be a challenge and i think another real difficult thing is to try to get obama to transfer that grass roots support to congressional candidates and gubernatorial candidates. people who may not have been democratic party activists person and appeal to obama and liked his message of change. it's hard to transfer that support but that's what the democratic party is trying to do from the right's getting weird about this, isn't it?
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>> yeah, they think this might work to their advantage, saying obama's popularity dropped in the critical states, and connecting the election to obama may not be the solution but the democratic national committee things they can reach the voters and convince them this is important to his agenda and his presidency and make up a few points in the polls and win some races. >> shepard: do you see what rush limbaugh said today? >> i did not. >> shepard: why doesn't he appeal to the old white guy? >> they're targeting independent voters who are new voters. many happen to be women, younger, many are latinos and african-americans, people who voted for the first time in 2008 and that's the demographic the president is trying to reach. >> shepard: right. phillip rucker for the washington post, live from the newsrooms. thank you. thank you. >> that flight's been diverted
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and we have more information to get to you right after this commercial break. @=h
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flight headed from paris, a delta flight were paris to atlanta, taking to bangor, maine, the first spot in the continental united states. there was a disruptive passenger. the flight wasn't on the ground at last check. more than one air marshal was on the flight. the passenger is subdued. it sounds like this is a bunch of nothing. an update on a story we brought you last night on the fox report. an editor for the on-line blog gozmodo in legal trouble. police in california raided his home after the site leaked details of the apple's next iphone. police seized not only computers but digital cameras, hard drives and a cell phone from jason
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chen's home friday. he post this had video on line touting the new phone's features. >> here's some of the features. the front camera, finally there, two volume buttons are separate. the whole outside is meltic. >> a writer claims the site purchased the iphone prototype for $5,000 from a dude to found it in a bar. with us, lance, the editor in chief of pc and arthur aidala. the phone looks cool. >> it's like the dream iphone with the camera -- >> shepard: on boat sides. >> but apple could be producing a number of prototypes. this isn't necessarily the next iphone but it was apple's
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property. >> finders keepers, losers weepers never heard that rule? >> apple took steps. >> shepard: they put it in a case to look like something else. maybe they deserve a citation. >> they were trying to be secretive. they're airtight when it comes to controlling information and this was a stunning lapse. this engineer took it out of the headquarters, went to a bar, i don't know what happened and we don't know if it was lifted from him or he left it there. but it got from that guy to gozmodo and they basically went to town on it. they took it apart and took photos and posted it on line. and apple has done everything in its power to get it back. they did get it back and it's just going off on its way. but the thing is, this is a difference between some blog sites and -- >> shepard: and apple. >> not just apple. >> shepard: a stalker media site.
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>> there's different ways of doing tech journalism. pc mag signs nondisclosure agreements. we see products -- >> shepard: that's called access journalism. >> that's what they call it but we call it helping the readers because we have the full story. it's tough. >> shepard: especially with apple. >> apple doesn't do that. they don't talk to anybody. >> they don't give you nothing, nobody, no can do. >> some people say maybe it was a leak. >> shepard: no way. >> no way. this is not a little chat with a analyst or a little fuzzy photo. this is not a patent, this is -- this is a big lapse. >> shepard: no, no, no here's what i'm figuring. if i've had about five too many beers in redwood city and left my phone and called him and said dude stole my phone, i'm getting they would send the armada out
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for me. >> 17 law enforcement agencies involved. >> shepard: repeat that, arthur. >> 17 law enforcement agencies looking for this phone. shep if a guy mccain came -- guy came with a uzi and wiped out the room --? this is one time i wish they would. >> it shows the power of a corporation. it's a prototype. it does not have the numbers president obama would need to launch the nuclear missiles. it's a phone. they're seizing stuff that you need a warrant to get and judges have high standards before you knock down someone's door and steal their computer but apple says it's important and it's happening. >> shepard: i could lose three of my children and not get 17 law enforcement agencies. >> no way in the world. >> apple did say it was stolen property. >> shepard: what is apple going to say?
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you drank too many beers and left the phone. how many times have i done that? >> if you find stolen property, what do you do with it? >> shepard: oh please, you take it apart and sell it off. >> no, you return it. this is not normal, this is so out of the realm of realism. >> shepard: don't carry apple's baggage. >> i'm not carrying anyone's baggage. they think it's stolen and -- look -- >> shepard: they're so secretive. all of america is glad they're secret is out of the bag. i'm with him. he's counting down. we have four seconds. >> i wouldn't mess with a company that's as dead serious at apple. >> shepard: told you.
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one of america's most important trading partners a country that
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holds hundreds of billions in united states debt awe one of the most restrictive countries on earth. this appears china is tightening the noose. the government wants to require internet companies to inform on folks to discus state secrets. what constitutes a china state secret? what have the government wants, maps, economics, gps coordinates. jonathan hunt is with us. companies become government informants for the communist government of china. >> that's the bottom line according to the draft of the amendment to the state's secret law. it's so worrying, it defines state secrets to broadly. the draft says secrets are information that concerns state security and interests and if leaked, would damage state security and interest in the areas of politics, economy and
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national defense among others. it could mean anything. whatever the chinese leaders wake up and decide is a state secret is a state secret. >> shepard: can u.s. companies in china do anything? >> they can, according to the china experts we've spoken to but whether they want to is a question. the china expert we spoke to says it will take government intervention on the part of the u.s.a. >> what we need is the u.s. government, the british government, the french government, to require american companies to ignore these types of rules and restrictions. that means we may not be able to do business within china but we don't want our companies to be come police its. >> it will take a tough stance on the part of foreign governments and those companies we're we're dependent on china
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and them on us. how do the u.s. stop them. >> bottom line, according to china experts, they need us more that be we need them -- than we need them. they need to sell always the goods they sell to us to keep their economy afloat. we shouldn't keep describing them as the stronger one in the partnership. they need us. >> jonathan hunt live in the newsroom. the dow is down more than 200 points add fallen below 11,000 in the session. the financial sector a large part of this. "your world with neil cavuto" "your world with neil cavuto" after a commercial break.d. good wer that's next. literally across the street from her sister. [ banker ] but someone else bought it befe they could get their offer together. we really missed a great opportunity -- dodged a bullet there. [ banker ] so we talked to them about the wells fargo priority buyer preapproval. it lets people know that you are a serious buyer
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